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Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global leader in nanoscience energy saving solutions, today announced an update to their earlier release regarding the favorable report by Mexico's CFE (Comision Federal de Electricidad, Federal Electricity Commission) which qualified the coatings for a state run energy efficiency credit program.
Distribuidora Nano de America S.A. de C.V., the company's Mexican distributor, has now completed the next step, which included the award of NOM 18 ENE, after successful testing by accreditation laboratory, ONNCCE, for thermal insulation values. They will next apply for the NOM 460C, which is expected to be completed in approximately 4-6 weeks. After award of that certification, first orders will begin for the green mortgage program. Initial applications will be on roofs of homes to increase energy efficiency and reduce energy costs. It is projected that Nansulate(R) will initially be used for approximately 40% of the market for this year (Total Market 400,000 units) which is near 160,000 units with approximately 4 gallons of Nansulate(R) to coat the roof of each unit.
Last year Mexico's CFE released a study they completed on the company's patented nanotechnology-based insulating coatings, Nansulate(R). The study found that the coatings acted as an effective insulator and provided significant energy savings during both day time and night time hours. The findings of the study qualified Nansulate(R) for the energy efficiency rebate program offered by INFONAVIT, Mexico's state owned, and largest, mortgage provider.
As the largest originator of residential mortgages in Mexico, INFONAVIT authorized a credit system called Green Mortgage in response to the recommendations of the General Assembly in Mexico. The Green Mortgage program is aimed at improving the environment, promoting the incorporation of sustainability criteria in the homes that INFONAVIT finances, supporting the National Strategy for Climate Change, and ensuring energy and water savings that will make homes more affordable. According to Government statistics over three years of administration, in spite of the economic crisis, INFONAVIT has granted 1.4 million home loan credits to families. In spite of believing that the economic crisis would completely halt housing loans and sales, the organization is finishing 2009 with 450,000 new loans.
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
About Industrial Nanotech
Industrial Nanotech Inc. is a global nanoscience solutions and research leader and member of the U.S. Greenbuilding Council and the American Solar Energy Society. The Company develops and commercializes new and innovative applications for nanotechnology which are sold worldwide.
Nansulate(R) is the Company's patented product line of award winning, specialty coatings containing a nanotechnology based material and which are well-documented to provide the combined performance qualities of thermal insulation, corrosion prevention, resistance to mold growth, fire resistance, chemical resistance and lead encapsulation in an environmentally safe, water-based, coating formulation. The Nansulate(R) Product Line includes industrial, residential, agricultural and solar thermal insulation coatings. Additional information about the Company and its products can be found at their websites, (www.industrial-nanotech.com) and (www.nansulate.com). Blog: www.nansulate.com/nanoblog, Twitter: www.twitter.com/NanoPioneer.
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For Industrial Nanotech, Inc.
The Cervelle Group, LLC
Rob Karbowsky, 407-614-5959, ext. 227
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